gold, page-54083

Where did you get this ' survey ' from.... Can you post a link, i would like to read up on it please.

I have a few brothers but one of em is a tax accountant and he reckons bankruptcies are on the rise (or have been) and he reckons the provisions for bad debts in the Gov's balance sheet arn't high enough. Even though he's my brother i don't just believe him at face value all the time especially if a walking text book like yourself doesn't share the same outlook so could you link so reading for me ragarding it all please Doc.

I also note there is legislation floating around the Gov somewhere that is discussing or debateing the bankruptzy laws or goal posts, so instead of 3 yrs they might move to one year, let people keep passports, automation of discharge and i think they even mention removing the Bankruptzy tickable box on loans - i.e discharged bankrupts might not have to tell the bank they been bust. I don't know what to make of it, i think its good people could get on with their lives quicker and easier but i wouldn't want any changes to create more incentive to go bust... What do you think?

On the subject of falling real wages and the data backing it up or not backing it up and/or your view on it, i think the data you view is insufficient. Let me give you some real world data and thoughts....... If the data your viewing suggests real wages arn't falling does it include housing? If it doesn't with the exception of cigarettes i would tend to agree real wages arn't really falling, if it does include housing then i don't think the data used reflects all sections of the real economy. Heres some real data from a low/standard income earning person such as a Butcher.. Back in '96 i bought first house with a 6k deposit, 90k @ 7% from memory repaymnents were about $150/wk approx, i was earning after tax $600 (in the hand)....... Fast forward to today the same house is $550k @ 4% repayments would be about $650/wk approx - today butchers are flat out taking home 1k/wk, if only a 5day worker then 8-900 is about the average. So would you agree that real wage growth is falling for trades like mine because now a house costs me about 70% of my wage whereas back in '96 it was more like a quarter or well under 30% of my wage?

I understand government workers, miner workers, "proffessional' white collar workers all earn well in excess of 1k and apparently the average wage is about $40.hr so they have all kept up quite well however the low end of workers have experienced major falling real wage growth, in fact we've been shrunk real good because believe it or not they also need a house to live in, so to add another question do you think all this excessive money printing, QE and low interest rates has had a very unbalanced undesirable negative effect on Butchers and alike workers and only positives for government workers and so called proffessional type workers? I also think this is why the french yellow vests protested for weeks/months, the poor have been squeezed enough and the Pro's have been given enough haven't they? Any other thoughts?

While i'm at it a couple more questions lol .... Did you re-load your short after seeing CPI @ 0.;3 and Trump putting on his Xmas suit? If not, why are you waiting for Oct, what is your reasoning for the wait?
If CPI trends above the feds target say over the next period which i think a continued 0.3 would do, do the CB's (fed) focus on inflation or growth as priority?..... I know back in the day Volcker focussed on taming inflation, do you think today that the Fed would side in a similar way in there way slow growth but high inflation?


Thanks in advance for your thoughts Doc